NewFortis Sacco members will yet again get increased annual earnings for the fiscal year 2022, receiving a total payout of Ksh 795 million as dividends on share capital and interest on deposits, up from Ksh740.8 million in 2021. The Sacco Board of Directors declared payment of interest at 13%, up from 12.9% last year and 14% on the dividend.
The Sacco non-withdrawable deposits grew to reach Ksh6.3 billion in 2022 from Ksh5.58 billion in 2021. The Society also significantly contributed to its members’ economic empowerment while enriching their social benefits by offering affordable loans worth Ksh 6.92 billion, up from Ksh6.2 billion in 2021. The Sacco total assets increased to Ksh10.2 billion from Ksh9.2 billion in 2021.
The Sacco celebrated its 47th Annual General Meeting with tremendous growth for the financial year that ended 31st December 2022 that was held at Nyamachaki grounds, Nyeri town, and graced by Co-operative and Micro, Small and Medium Enterprises (MSMEs) Development Simon Chelugui, Nyeri Governor Mutahi Kahiga, Sacco Societies Regulatory Authority ( SASRA) CEO Peter Njuguna and Kenya National Union of Teachers (KNUT) National Chairman Patrick Karinga Munuhe.
